Kannur-based Vinsmera Jewels is embarking on an ambitious retail expansion strategy, targeting a pan-India presence with plans to open 40 outlets across South India over the next five years.
Established in 2008, Vinsmera has already made its presence over the past year, with outlets in Kozhikode and Kochi and is looking at openings in Thiruvananthapuram and Kannur.
The group also aims to expand its existing five branches across Abu Dhabi, Dubai, and Sharjah and scale up their manufacturing and wholesale facilities in the UAE.
“The expansion will be backed by a dedicated investment strategy aimed at establishing the brand in new markets across Kerala, Tamil Nadu, Andhra Pradesh and Telangana, with the objective of pursuing an IPO once this expansion phase is complete”, said Dinesh Kambrath, the Chairman of Vinsmera Group.
“Reimagining jewellery retail with a focus on craftsmanship, sustainability, and job creation is our priority,” said Kambrath. The proposed rollout is expected to generate approximately 2,500 new employment opportunities, with a dedicated focus on increasing women’s participation throughout the manufacturing value chain.
With nearly two decades of expertise, Vinsmera designs and exports premium jewellery to leading brands across India, the Gulf, the US, and Australia. Its wholesale operations are strategically located in Dubai, Kannur, and Thrissur.
The group has appointed actor Mohanlal as its brand ambassador.
Amid rising gold prices and economic uncertainty, Kambrath is optimistic on the industry’s trajectory. Despite the surge in prices, the sales have remained stable. There has been a significant shift among younger consumers toward lightweight and diamond jewellery.
“Gold continues to hold a unique position among Indian consumers, not merely as jewellery but as an important form of inheritance and long-term investment,” he said. While acknowledging that geopolitical developments may cause temporary price fluctuations, he maintained that gold’s long-term value proposition remains unshaken.
Despite rising gold prices, the jewellery retail market has seen a rapid increase in the number of outlets, particularly in Kochi. According to Kambrath, the growing presence of jewellery brands reflects the city’s emergence as a major destination for fashion, style and trends. The expanding market offers ample room for healthy competition, driving innovation and quality for consumers.
However, gold price volatility and economic uncertainty remain among the key challenges for the jewellery industry. While acknowledging other challenges, he said Vinsmera is equipped to respond by continuously updating its designs and collections in line with changing consumer preferences.
The economic uncertainty and geopolitical developments could and temporarily influence market conditions. However gold’s long-term value proposition remained a key strength of the jewellery sector, he added.